Take-Two Secures Rockstar Employees

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The company makes a $25 million deal to keep GTA creators on-board.

By Wade Steel

Take-Two Interactive revealed in a filing with the Securities and Exchange Commission (SEC) yesterday that the company has entered into a three year $25 million employment agreement with "key Rockstar personnel."

The agreement, which was revealed in a 10-Q filing, is structured to compensate the Rockstar employees with restricted stock in Take-Two Interactive and "unspecified" internal royalties.

According to the filing, the deal was made because the company is "highly dependent on the expertise, skills and knowledge of certain of our Rockstar employees responsible for content creation and development of Grand Theft Auto and other titles." The filing contains the standard caveat that the agreement does not guarantee the long-term employment of the Rockstar staff nor does it guarantee the future success of any games developed by Rockstar.